[TheCowboy]

I'd drop the word "neutrality" and replace it with what is trying to be expressed that economics aims to do: make positive statements, attempts to describe something, makes statements that are falsifiable/testable.

Political economy is where the value judgments and arguments about why we should implement some form or system of economics.

Economics doesn't disappear under socialism or communism. Many basic principles apply depending on what form of socialism is adopted, such as supply and demand. Socialists tend to run into problems when they decide economics is some 'tool of the bourgeoisie' when it is a tool for everyone who want to solve real problems involving the distribution of society's wealth.